''We are going to coordinate our efforts with the leading emerging economies. We are in direct contact with India, China and Brazil. We are interacting in the BRIC and RIC (Russia-India-China) formats,'' Russian Foreign Minister Sergei Lavorv said at a press conference yesterday.

Mr Lavrov said the Finance Ministers of BRIC countries will hold talks during the meeting of the Finance Ministers and Central Bank Governors of the leading industrialised and developing countries in Sao Paulo (Brazil), next month, ahead of a G-20 summit in the US to overcome the world financial crisis.

The conference on the financial crisis on November 15 in Washington would also be important, he added.

''The main thing is that they not only gather together, but also work on the basis of collective analysis,'' the Minister noted.

In the wake of the global financial crisis, Russian Prime Minister Vladimir Putin said recently the crisis had shown the BRIC countries would be ''the locomotive'' of the world economy in the near future.